Impact of IAS IFRS on Reducing Information Risk and Enhancing Financial Performance in Iraq
DOI:
https://doi.org/10.51699/ijbde.v3i3.3574Keywords:
Accounting Performance Efficiency, Information, Information RiskAbstract
This study investigates the recent implementation of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) in Iraq, highlighting its impact on enhancing information quality, reducing risk, and improving financial performance efficiency. The interconnected system of these standards ensures operational efficacy and provides accurate, relevant information for informed decision-making. Despite these benefits, information quality poses a risk unless specific attributes are met, affecting financial performance and information accuracy. The study identifies a positive relationship between lower information risk and higher accounting performance, supported by a significant T-test result (computed value: 12.062, tabulated value: 2.82). This research aims to evaluate the effects of IAS/IFRS adoption on information risk and accounting performance, using hypothesis testing to validate findings. The results underscore the importance of rigorous standards in mitigating information risk and enhancing financial outcomes.
References
I. Sultan, *Management Information Systems*, University House, Alexandria, 2015.
A. H. Gomaa et al., *Accounting Information Systems: Contemporary Application Approach*, Dar Al-Maajah Publishing and Distribution, Amman, Jordan, 2017.
I. Muda, A. H. Harahap, S. Ginting, A. Maksum, and E. Abubakar, “Factors of Quality of Financial Report of Local Government in Indonesia,” in *IOP Conference Series: Earth and Environmental Science*, vol. 126, no. 1, 2018.
A. M. El Masry, *Modern Management*, Alexandria, Egypt, 2016.
R. Ali, “Financial Reporting: Any Information Content?,” *Economic and Administrative Research*, Faculty of Economics and Management, Mohammed Khaydar University, Biskra, 2017.
S. Mulyani, R. Hassan, and F. Anugrah, “The Critical Success Factors for the Use of Information System and its Impact on Organizational Performance,” *International Business Management*, vol. 10, no. 4, 2016.
D. C. Donelson, M. S. Ege, and J. M. Mcinnis, “Internal Control Weaknesses and Financial Report Fraud,” *Auditing: A Journal of Practice & Theory*, vol. 36, no. 3, pp. 45-69, 2017.
A. K. Gazi, “People with Vulnerabilities to Cyclone in the Coastal Area of Bangladesh: An Overview,” *International Journal of Social Sciences and Economic Review*, vol. 1, no. 2, 2019.
E. Ribeiro and G. Prataviera, “Information Theoretic Approach for Accounting Classification,” *Physica A: Statistical Mechanics and Its Applications*, vol. 416, 2014.
M. G. Simkin, C. A. Norman, and J. M. Rose, *Core Concepts of Accounting Information Systems*, John Wiley & Sons, 2014.
R. Stair and G. Reynolds, *Principles of Information Systems*, Cengage Learning, 2020.
B. Rotberg, “Culture and IFRS: The Effect of Culture on IFRS Implementation and Financial Reporting Quality,” 2016.
N. Sari, I. Ghozali, and T. Achmad, “The Effect of Internal Audit and Internal Control System on Public Accountability: The Empirical Study in Indonesia State Universities,” *Technology*, vol. 8, no. 9, 2017.
N. Uwajumogu, E. Nwokoye, I. Ogbonna, and M. Okoro, “Response of Economic Diversification to Gender Inequality: Evidence from Nigeria,” *International Journal of Social Sciences and Economic Review*, vol. 1, no. 2, 2019.
N. Uwajumogu, E. Nwokoye, I. Ogbonna, and M. Okoro, “Response of Economic Diversification to Gender Inequality: Evidence from Nigeria,” *Innovation Journal of Social Sciences and Economic Review*, vol. 1, no. 2, pp. 61-72, 2019.
G. E. Esu and U. Udonwa, “Economic Diversification and Economic Growth: Evidence from Nigeria,” *Journal of Economics and Sustainable Development*, vol. 6, no. 16, pp. 56-68, 2015.
M. C. Uzonwanne, “Economic Diversification in Nigeria in the Face of Dwindling Oil Revenue,” *Journal of Economics and Sustainable Development*, vol. 6, no. 4, pp. 61-67, 2015.
